Financial Crisis could reshape biotech

Recent Outbreaks Posted on

The U.S. biotechnology industry became profitable for the first time in 2008, a new report says. But the global financial crisis has led to a funding drought that could make the road ahead more difficult.

Those are just some of the findings from Ernst & Young's global biotechnology report 2009, its 23rd annual look at the industry.

The report by Ernst & Young says U.S. profit for the industry totaled $800 million. Globally, the still-developing industry lost $1.4 billion.

But the report also says young biotechnology companies also are seeing less money from investors because of the financial crisis.

Stock market declines have cut public investors' appetite for risk — and biotech has always been relatively risky.

Legal News Media

Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.


American Bar Association – Start and Run a Law Firm – Starting a Law Firm

Lawyer Website Designs